STI falls again as cautious mood reigns

Technical chartists say a further consolidation cannot be ruled out but the extent of it should be limited

Anita Gabriel

Published Wed, Jan 31, 2018 · 09:50 PM

CAUTION reigned in the local bourse following an overnight sharp sell-off in US stocks ahead of a key US Federal Reserve policy decision later in the day and as traders studied US President Donald Trump's State of the Union address.

While other key regional indices reversed their morning declines, the benchmark Straits Times Index continued the downtrend, finishing 14.8 points or 0.4 per cent lower at 3,533.99 on Wednesday, January's last trading day.

Despite the weak note over the last two trading days that has been attributed to a "technical correction" necessitated by profit-taking after the recent rally, the Singapore bourse is still …

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes